ENERGY MINERALS

FMG continues throwing down the gauntlet to BHP, Rio

ANDREW Forrest continues to throw down the gauntlet to FMG’s Pilbara iron ore peers BHP and Rio Tinto, today further sketching-out FMG’s 2030 decarbonisation plans by saying more than US$6 billion will be spent by 2030 to reduce operating costs by $818 million per annum and “eliminate fossil fuel risk”.

 Andrew Forrest in Colorado on Friday

Andrew Forrest in Colorado on Friday

Most of the spend will happen in the period 2024-2028 and payback of capital is expected by 2034 based on prevailing market prices - $1.00/litre for diesel, $4.50/GJ for gas and $20/unit for Australian...

Start a free trial to continue reading this article

Already have an account?

Subscribe now

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining News Intelligence team.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

MiningNews.net Research Report 2024

Access a multi-pronged tool to identify critical risks and opportunities in Australia’s mining industry.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.